What do you mean by custom duty

Customs duty is an indirect tax imposed by the government on goods transported across international borders. In India, it is primarily governed by the Customs Act, 1962, and the Customs Tariff Act, 1975. The primary objectives of levying customs duty include:

• Protecting domestic industries from foreign competition.
• Regulating the flow of goods into and out of the country.
• Generating revenue for the government.

The duty rate is typically determined based on the origin, nature, and value of the goods.